CIBC (CM:CA) (CM)
Analyst Update
Jefferies & Company raised its 12 month target price to $127.00 from $123.00, with a “Hold” rating. The valuation adjustment reflects improved earnings visibility and stabilizing fundamentals across its core banking operations, and firmer net interest income trends as margin compression moderates, alongside steady loan growth in Canadian personal and commercial banking. Analysts may also be factoring in disciplined expense management and improving capital markets activity, which supports fee income recovery. Additionally, stable credit quality and manageable loan-loss provisions contribute to a more constructive risk profile, supporting modest multiple expansion and a stronger forward earnings outlook within the Canadian banking peer group.
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